Messages - biophil

Hey, it is *extremely* frustrating that Cryptofresh doesn't provide information about collateralization for the various bitassets. You used to have a list of all open short positions for each of the smartcoins, but (apparently in the past month) that list has inexplicably disappeared. Why would you ever remove that crucial information?

TL;DR please give us back the information about collateral ratios for bitassets.

To make a successful ICO, just make sure that you don't have no working prototype of your product, no business plan, no roadmap, nothing besides a vague white paper, use a lot of pseudo-scientific terms from wikipedia, make up a coupled of meaningless terms on your own, use them often and lie a lot.

don't forget bitcointalk bounties

And BY NO MEANS should you communicate to the public outside of a poorly-oragnized slack channel.

Oh dear. So that transaction of about 0.664 BTC is the one you sent? I don't know how the app created that from "Lana," but it's possible that your funds are lost. They are certainly not recoverable by anybody at OpenLedger or Bitshares. The only thing I can think is that maybe you could have some success by talking to the support people for your phone app.

I don't think you've quite given us enough information to help you. What BTC wallet are you using? Did it give you a transaction ID (trxid)?

That long string of numbers and letters you sent doesn't look like anything I recognize; it's much too long to be a BTC address and it's not a trxid according to blockchain.info. What do you mean "the transaction went to" that object?

Also it worries me just slightly that you're saying "BTSX". It's been a long long time since we used the "X" as part of it. What BTS wallet are you using?

It's all in the title. It would be a nice customer-relations move to have a banner of some sort on markets whose deposits are disabled. Sure, buyer beware and all that, and I'm not threatening to libel you or anything - but it's extremely frustrating to find what looks like a good price only to discover too late that it's because the IOU in question isn't actually redeemable at the moment.

I have been watching the BitCNY price slide downwards relative to bitUSD for the past several weeks. Right now, by dividing bitUSD and bitCNY price feeds, the implied bitCNY/bitUSD price is about 0.133. On the other hand, Google gives the exchange rate between CNY and USD at 0.146.

In centralized exchanges they hold private keys for the tokens on their servers, it's dangerous as it can be stolen like what happened with Mt gox, some other exchanges hold tokens in "cold servers" that are not connected to the Internet What about open ledger, what do they do with the Bitcoins which I send to them in exchange for open bitcoin How to know that these open Bitcoins are convertable to real Bitcoins

Are you familiar with the centralized exchanges like Poloniex or Bittrex?

In part, Openledger works in the same way. When you deposit BTC with Poloniex, it goes into some wallet that's controlled by Poloniex. They have a database which tells them how much of their BTC belongs to you, and then they basically give you an IOU that you can trade on the Poloniex exchanges.

With Openledger, you deposit BTC and it goes into their wallet. Just like how Poloniex has a database which tells them how much of the BTC belongs to you, Openledger also has such a database - but their database is the Bitshares blockchain itself. The way they track how much of the BTC belongs to you is that they issue you an equivalent number of OPEN.BTC tokens.

So Openledger keeps the BTC that you deposit, and I suspect it's auditable in some way but I've never tried.

I'm not even convinced that the offset benefits shorters, TBH. I mean it certainly benefited people who had open short positions at the time, but for new positions it's a wash. All it does is move the price down, which means that opening a short position now happens at a slightly lower price. It's just silly.

Thanks for linking that discussion. The discussion is so painful. It's one of a million more "hey all let's go tweak this parameter very slightly in favor of X user group over Y user group, because hey, most of us voting types are X user group anyway and nobody from Y user group is here to protest! It will solve perceived problem Z while predictably creating a new set of problems A, B, and C!"

And now, the forseeable consequence is that now that we have much higher liquidity bitassets, they all trade below the peg.